Today’s Market Recap: Oil Plunge Boosts US Stocks as Dow Surges 1,100 Points, Nasdaq Rises 2.74%; AMD Jumps Over 13%, Nvidia Falls Over 4%
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On November 9, U.S. indices rebounded strongly, driven by falling oil prices that eased inflation and geopolitical concerns. Semiconductors and AI infrastructure led gains, while Nvidia declined amid an investigation into its CEO. Gold rose, and crude oil fell sharply. Corporate developments featured Constellation Energy raising its earnings guidance on strong nuclear power demand, NRG Energy agreeing to a $4 billion gas asset sale, Fox completing its Roku acquisition, and Boeing planning commercial workforce reductions.
Tracking Market Trends
TradingKey - On November 9, the three major U.S. stock indices rebounded strongly as a sharp drop in oil prices eased market concerns over inflation and geopolitical risks, with semiconductor stocks and the AI data center supply chain regaining favor from investors.
The Dow Jones Industrial Average rose 2.15% to 52,395.25 points; the S&P 500 gained 2.35% to 7,549.94 points; and the Nasdaq Composite Index advanced 2.74% to 25,253.14 points.
In terms of sectors and individual stocks, AI infrastructure concept stocks led the gains. AMD (AMD) jumped 13.26%, and CoreWeave (CRWV) rose 5.56%; nuclear power operator Constellation Energy (CEG) climbed 10.46%, driven by earnings and raised full-year guidance that strengthened data center power supply plays. Nvidia (NVDA) fell 4.27% to close at $178.67.
In commodities, gold (XAUUSD) stood at $4,140.96, up 1.72%; Brent crude (UKOIL) tumbled 5.91% to close at $92.19; WTI crude (USOIL) dropped 4.41% to close at $86.37. As markets dialed back their pricing for further escalation in Middle East supply risks, international oil prices continued to retreat.
In cryptocurrencies, Bitcoin (BTC) was quoted at $75,368, rising slightly by 0.69%; Ethereum (ETH) was at around $2,123, trading near flat.
Market News
Nvidia (NVDA) launches independent investigation into CEO Jensen Huang. The company announced an investigation into reports that Jensen Huang may have been the target of foreign intelligence activities. The incident weighed on the company's stock price, with markets watching the progress of the probe and its corporate governance implications.
Constellation Energy (CEG) raises full-year earnings guidance. The company reported third-quarter adjusted operating earnings of $5.06 per share, up from $3.04 in the prior-year period, and raised its full-year adjusted operating earnings guidance to $12.50 to $12.80 per share; the company also disclosed long-term nuclear power arrangements with customers including Google.
NRG Energy (NRG) signs $4 billion gas asset sale agreement. NRG will sell six natural gas generation assets to LS Power, representing 4.9 gigawatts of installed capacity; the transaction is expected to close in the second quarter of 2027. The company plans to use part of the proceeds to repurchase shares and pay down debt.
Fox (FOXA) completes acquisition of Roku (ROKU). Roku has become a wholly owned subsidiary of Fox and has been renamed Roku, LLC; this transaction brings the streaming platform into Fox's media and digital portfolio.
Boeing (BA) reportedly plans to cut about 5% of commercial airplanes division workforce. Multiple media outlets reported that Boeing will slow its production ramp-up pace to buy time for factories and the supply chain to regain stability, with affected employees expected to be notified in December.
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This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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